Phoenix Motor Q4 revenue $1.8M (+35% YoY); net loss narrows to $4.5M; Gen 4 production expected summer 2023

PHOENIX MOTOR INC.

Q4 net revenues $1.8M, up 35% YoY; full year $4.3M, up 45% YoY.
Q4 gross profit $0.3M vs gross loss $0.4M in prior year; full year gross margin improved to 19% from -19%.
Net loss Q4 $4.5M vs $8.2M; full year net loss $12.7M vs $14.6M in 2021.
Gen 4 start of production and first delivery expected summer 2023; ramp to 20-25 units/month by year end.
Recent partnerships: CATL battery supply, Matthews Specialty Vehicles, qualified for IRA clean vehicle credit.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PHOENIX MOTOR INC. reported financial results for the quarter and year ended December 31, 2022.

Period: the quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 29, 2023, Phoenix Motor Inc., a Delaware corporation (the “Company”), issued a press release announcing the Company’s financial results for the quarter and year ended December 31, 2022.

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PHOENIX MOTOR INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-038585

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